AUSTIN, TEXAS — Momentum in the SkinnyPop brand combined with the national launch of Paqui tortilla chips spurred fourth-quarter sales, leading to overall strong fiscal 2015 performance, at Amplify Snack Brands, Inc.
Net income at Amplify in the year ended Dec. 31, 2015, was $9,885,000, equal to 14c per share on the common stock, up 109% from $4,738,000, or 7c per share, in fiscal 2014. Adjusted EBITDA, meanwhile, increased 28% to $74,892,000 from $58,537,000. Net sales during fiscal 2015 totaled $183,915,000, up 187% from $64,004,000 in fiscal 2014.
During the fourth quarter of fiscal 2015 ended Dec. 31, net income was $4,410,000, or 6c per share, up sharply from $2,613,000, or 4c per share, in the same period a year ago. Net sales increased 40% to $46,372,000 from $33,047,000.
|Thomas Ennis, president and c.e.o. of Amplify Snack Brands|
“We finished the year on a strong note, as we delivered net sales growth of over 40% in the fourth quarter while also maintaining an exceptional EBITDA margin,” said Thomas Ennis, president and chief executive officer. “Our financial performance in the quarter reflects the strong momentum for the SkinnyPop brand, as we continue to realize best-in-class velocities while simultaneously increasing our points of distribution and gaining market share across a wide range of sales channels. We recently expanded our product offerings with the launch of multiple new SkinnyPop flavors and the national launch of Paqui tortilla chips. We are very encouraged by initial consumer response to our newest products and brand and remain confident that we are well positioned to deliver solid top- and bottom-line growth in 2016.”
Amplify launched an initial public offering in July 2015. The company describes itself as “a high-growth snack food company focused on developing and marketing products that appeal to consumers’ growing preference for better-for-you, or B.F.Y., snacks.”The company’s anchor brand is SkinnyPop, which was established in 2010, and the company early last year acquired Paqui, a tortilla chip brand that the company said has many of the same key taste and B.F.Y. attributes as SkinnyPop.